Bitumen is a combination of hydrocarbons, which are extremely viscous and black in color. They are obtained via byproduct of petroleum distillation or naturally. It is widely used in the road construction for surfacing purposes. Bitumen provides exceptional water resistance, high stickiness, and viscosity. The commonly available types of bitumen are cutback, paving grade, polymer modified, oxidized, and bitumen emulsion. Other applications of bitumen other than road construction activity are in insulations, waterproofing, adhesives, and paints.

Global Bitumen Market: Segmentation

The bitumen market is globally segmented into its product, application, and regions. On the basis of product, the global market is segregated into oxidized, emulsion, paving, cutback, and polymer modified. Based on the application, the market is categorized into waterproofing, insulation, roadways, and adhesives. The regional segmentation of the bitumen market is diversified into North America, Europe, Asia-Pacific, Latin America, and Rest of the World.

Global Bitumen Market: Growth Factors

The prime factor that augments the global market growth is the growing government initiatives for development of the roads across the world. Additionally, the increasing road traffic is creating the terrible need for roads that are wider in size, thus consequently boosting the global demand for bitumen. The flourishing construction industry across the globe favors the growth of the market. The growing government investments for upgrading the public infrastructure and rising disposable income of citizens are increasing the construction activity which in turn increases the demand of bitumen. The healthy growth of the paint and coatings sector supplements the growth of the market. Paints that are manufactured using bitumen provide exceptional corrosion traits and weatherproofing. The factor that is affecting the market negatively is the stringent regulatory environmental regulations that are imposed on the manufacturing and application of bitumen. Manufacturing of bitumen includes fractional distillation of crude oil. Thus, the variable prices of raw material are impacting the growth of the market negatively.

Global Bitumen Market: Regional Analysis

North America will remain in the top position in the coming years. The increasing initiatives that are taken by governments in order to repair and redevelop the existing roads drive the demand for bitumen in the region. In the U.S. there is growing residential remodeling practices which propel the growth of the market in the region. Developing regions are expected to grow in the global bitumen market. The growth of the market in the Asia-Pacific region can be attributed to the increasing number of cities and rising consumer disposable income, which leads to the growing sales of vehicles and construction activities. Japan, China, and India are the emerging economies that are contributing a good share in the market. The increasing infrastructure development propels the growth of the market in the Latin American and the Middle East and African regions.

Global Bitumen Market: Competitive Players

Some of the key market players that are involved in the bitumen market are Total S.A., Indian Oil Corporation, Chevron Texaco Corporation, Royal Dutch Shell Plc., Exxon Mobil Corporation, British Petroleum, JX Nippon Oil & Energy Corporation, Total S.A., and NuStar Energy.

Global Bitumen Market: Regional Segment Analysis

North America

U.S.

Europe

UK

France

Germany

Asia Pacific

China

Japan

India

Latin America

Brazil

The Middle East and Africa

What Reports Provides

Full in-depth analysis of the parent market

Important changes in market dynamics

Segmentation details of the market

Former, on-going, and projected market analysis in terms of volume and value

Assessment of niche industry developments

Market share analysis

Key strategies of major players

Emerging segments and regional markets

Testimonials to companies in order to fortify their foothold in the market

Global Spray Adhesives Market: Overview
Spray adhesives are the mixtures stored in an aerosol tin and used for industrial application. These are multipurpose and manufactured in various colors, sizes, shapes and by different mechanisms. These are a good substitute for hot glue, white glue, tapes...Read More

Polyethylene is a vinyl polymer manufactured from ethylene monomer via polymerization reaction. Polyethylene characteristically is a single molecule of long-chain carbon atoms having two hydrogen atoms bonding with a carbon atom each. High-density polyethylene and low ethylene polyethylene are two...Read More

Global Acrylic Emulsions Market: Overview
Acrylic emulsions are quick-drying paints composed of pigments that are acrylic polymer suspended and formed into an emulsion. These are water-soluble and water resistant when dried and mainly used in painting and coating sector. Also, these are colloida...Read More

The report covers forecast and analysis for the lubricants market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the lubricants market along with the...Read More

Download Brochure

Name

Email

Phone

Message

Captcha

Why Choose Us ?

24/5 Research support

Resolved your research queries from industry expert. Request for a free research sample before report purchase.

Custom research service

Ask the Analyst to customize an exclusive study to serve your research needs.

Quality & Accuracy

Zion Market Research reports offers best quality reports based on various authentic and accurate data findings.

Customer Satisfaction

We ensure that our client's all research needs are met with customized, in-depth analysis solutions.

Information security

We never share your personal and confidential information. Your personal information is safe and secure with us.